I.T.A. NO 3364/LB OF 1995 versus I.T.A. NO 3364/LB OF 1995
Income Tax Ordinance 1979 Section 13 (1) (d) Advantage of Increase Legislative Assessment was engaged in the manufacture of agricultural equipment The income from such engagement was exempt from taxation until 1988 89 while related to 1987 88. Assisi also bought the agricultural land under which he belonged. It was asked to file a total income return of 1987 88 which was re-filed. The assessment was asked to file a statement and explanation regarding the settlement within 3 days and approval of such exercise intelligence. Continued without a hitch and was eventually increased by the CIT (A). Doubts were assessed in favor of the Assisi as no intention or any tax would be imposed while the Tax Department had to carefully consider the matter which the Assisi had expressly decided to present. What was later, according to the circumstances, the orders of the department were vacated by the tribunal.
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